3. The equality of P, MC, and minimum ATC: a. occurs only in constant-cost industries. b. encourages

Question:

3. The equality of P, MC, and minimum ATC:

a. occurs only in constant-cost industries.

b. encourages entry of new firms.

c. means that the “right goods” are being produced in the

“right ways.”

d. results in a zero accounting profit.

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